I received a letter from Aviva saying that my employer and trustees have requested to be transferred into a master trust pension from our current defined contribution scheme.
It appears this is due to some changes in EU rules which would mean higher costs for our existing scheme, therefore moving to the master trust to reduce those costs using scale to their advantage.
With limited pension knowledge, is there anything I should be asking about?
Looks like we have no say in it anyhow, and that's fine as it is out employers call, but I'm guessing people will be asking about it, especially as the letter was the first anyone knew of any change.
It does outline that there will be no changes to charges, etc etc and nothing needs to be done..
It appears this is due to some changes in EU rules which would mean higher costs for our existing scheme, therefore moving to the master trust to reduce those costs using scale to their advantage.
With limited pension knowledge, is there anything I should be asking about?
Looks like we have no say in it anyhow, and that's fine as it is out employers call, but I'm guessing people will be asking about it, especially as the letter was the first anyone knew of any change.
It does outline that there will be no changes to charges, etc etc and nothing needs to be done..